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America Saves Week starts Monday

Nonprofit, government and business organizations from all around the country have committed to promoting personal savings by joining the America Saves Week effort Feb. 27 through March 3.

America Saves week is managed by the Consumer Federation of America (CFA) and the American Savings Education Council (ASEC). This is an annual opportunity for organizations to promote good savings behavior and a chance for individuals to assess their own saving status.

The 2016 annual America Saves Week survey assessing national household savings revealed: Just two out of every five United States households report good or excellent progress in meeting their savings needs, with 52 percent saving enough for retirement with a desirable standard of living. But only 43 percent had automatic savings outside of work. More men (74 percent) reported saving progress than women (67 percent), and those with a savings plan with specific goals (55 percent) are making much more savings progress than those without a plan (23 percent).

Colorado State University Extension has taken notice of this short-fall and wants to support families by helping them become more financially prepared. For the 2017 America Saves Week, CSU Extension will provide newspaper articles, radio broadcasts, social media posts and Piggy Bank contests with the local youth to share the importance of saving.

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By becoming a part of the campaign, numerous resources are available to plan a special event or activity around saving. All of the resources are available to participants in a "Tool Kit." Each day has a saving strategy that is promoted through blogs, emails, newsletters and other media. Topics include: saving automatically, family savings day, save for retirement, saving at tax time, paying off high-interest debt and saving for emergencies.

Simple savings tips, like "Save just a $1 a day for a year to get a good start on building your $500 emergency fund," are available to engage participants. Bigger events or activities are listed by larger corporations or businesses that are used to engage employees and their communities.

Everyone can start by taking the America Saves Pledge, followed by assessing your savings progress and going through the saver checklist. Sign up for the #ImSavingFor Photo Contest to win $1,000.

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